Q: Is there such a thing as cancellation remorse. We cancelled our life insurance on phone but now regret it.
A: Most likely not. Read the policy to see if addresses cancellation.
Tim Akpinar agrees with this answer
Based on the terms of the contract, a telephone cancellation could be considered effective as cancellation, as companies today maintain recorded transcripts of such transactions. Contact the carrier to learn if additional written confirmation was necessary. Otherwise, you could look into a new policy, or if there are any provisions for reinstating cancelled policy.
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